Ciena Co. (CIEN) Director Sells $593,100.00 in Stock

Ciena Co. (NYSE:CIEN) Director Patrick H. Nettles sold 15,000 shares of Ciena stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $39.54, for a total transaction of $593,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Patrick H. Nettles also recently made the following trade(s):

  • On Wednesday, March 6th, Patrick H. Nettles sold 15,000 shares of Ciena stock. The shares were sold at an average price of $39.98, for a total transaction of $599,700.00.
  • On Wednesday, February 27th, Patrick H. Nettles sold 15,000 shares of Ciena stock. The shares were sold at an average price of $42.91, for a total transaction of $643,650.00.
  • On Wednesday, February 20th, Patrick H. Nettles sold 15,000 shares of Ciena stock. The shares were sold at an average price of $42.21, for a total transaction of $633,150.00.

Shares of CIEN stock traded up $0.16 during trading hours on Friday, hitting $39.43. The stock had a trading volume of 3,134,573 shares, compared to its average volume of 2,717,029. The company has a market capitalization of $6.12 billion, a P/E ratio of 35.21, a PEG ratio of 1.56 and a beta of 1.06. Ciena Co. has a twelve month low of $22.99 and a twelve month high of $45.70. The company has a current ratio of 2.98, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Tuesday, March 5th. The communications equipment provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.03. The business had revenue of $778.53 million during the quarter, compared to the consensus estimate of $761.62 million. Ciena had a return on equity of 10.73% and a net margin of 5.03%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Research analysts predict that Ciena Co. will post 1.52 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank purchased a new stake in shares of Ciena during the fourth quarter worth approximately $29,000. Csenge Advisory Group purchased a new stake in shares of Ciena during the third quarter worth approximately $29,000. PRW Wealth Management LLC purchased a new stake in shares of Ciena during the fourth quarter worth approximately $38,000. Ffcm LLC raised its stake in shares of Ciena by 355.7% during the fourth quarter. Ffcm LLC now owns 1,276 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 996 shares during the last quarter. Finally, First Hawaiian Bank raised its stake in shares of Ciena by 393.0% during the fourth quarter. First Hawaiian Bank now owns 1,474 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

CIEN has been the topic of several research analyst reports. Piper Jaffray Companies boosted their price objective on shares of Ciena to $41.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Argus restated an “average” rating and set a $53.00 target price on shares of Ciena in a research note on Wednesday, March 6th. Citigroup upped their target price on shares of Ciena to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Nomura upped their target price on shares of Ciena from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, BMO Capital Markets upped their target price on shares of Ciena from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 6th. Ten research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $41.83.

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Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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